Harbor Capital Advisors Inc. increased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 17.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 50,528 shares of the company's stock after buying an additional 7,675 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.19% of Palomar worth $6,926,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PLMR. American Century Companies Inc. increased its holdings in Palomar by 36.6% in the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after buying an additional 210,523 shares in the last quarter. Norges Bank bought a new stake in Palomar in the 4th quarter worth about $20,637,000. Price T Rowe Associates Inc. MD increased its holdings in Palomar by 39.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company's stock worth $45,622,000 after buying an additional 122,057 shares in the last quarter. Freestone Grove Partners LP bought a new stake in Palomar in the 4th quarter worth about $11,774,000. Finally, GAMMA Investing LLC boosted its position in Palomar by 27,543.8% in the first quarter. GAMMA Investing LLC now owns 99,794 shares of the company's stock worth $13,680,000 after purchasing an additional 99,433 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Palomar
In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $129.72, for a total value of $648,600.00. Following the transaction, the chief executive officer now owns 402,388 shares of the company's stock, valued at $52,197,771.36. This represents a 1.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the chief financial officer now directly owns 10,172 shares in the company, valued at $1,413,908. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,202 shares of company stock valued at $3,265,129 in the last quarter. 3.70% of the stock is owned by insiders.
Palomar Trading Up 0.7%
Shares of NASDAQ PLMR traded up $1.10 during trading hours on Wednesday, hitting $157.97. 274,508 shares of the company traded hands, compared to its average volume of 207,034. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 35.26 and a beta of 0.50. The company's 50 day moving average price is $154.36 and its 200 day moving average price is $129.16. Palomar Holdings, Inc. has a 12 month low of $77.28 and a 12 month high of $175.85.
Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.26. The firm had revenue of $174.63 million for the quarter, compared to the consensus estimate of $161.97 million. Palomar had a return on equity of 19.76% and a net margin of 21.23%. During the same quarter in the previous year, the company posted $1.09 EPS. Equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.
Analyst Ratings Changes
PLMR has been the topic of several research reports. JMP Securities reissued a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Keefe, Bruyette & Woods lowered their price target on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Piper Sandler boosted their price target on Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Truist Financial boosted their price target on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Finally, Jefferies Financial Group boosted their price target on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $164.33.
Check Out Our Latest Analysis on PLMR
About Palomar
(
Free Report)
Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.
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